As a gym or fitness center owner, customer waivers are usually not enough to protect you from potentially damaging financial risks. A specialty fitness center insurance policy can fill the gaps.

While most gyms get customers to sign waivers, that’s often not enough to protect you against lawsuits. And, even if such lawsuits fail, you may still face legal costs. That’s why you need specialty fitness center insurance to cover against the specific risks of a gym.

For example, you could be held liable for injuries caused by inadequately maintained equipment. You might face professional liability claims if a customer suffers a health emergency or injury and blames the advice your staff gave. You could even be sued by customers over problems with goods you sell, such as nutrition supplements.

How can fitness center insurance protect you?

Use the yellow hot spots and explore how fitness center insurance can help protect against common risks.

Workers' Compensation

Risk Factor

If one of your employees receives an injury or becomes ill due to a work-related occurrence, you are required by law to have the proper coverage in place.

Solution

Workers' compensation and employers liability insurance protects your employees should a job-related injury or sickness occur during the course of employment. Since benefits vary by state law, make sure your insurance agent is aware of all physical locations your business operates in and all physical locations where you hire your employees.

Commercial General Liability

Risk Factor

Water on the floor, slippery entry in the winter, broken glass/hazardous debris, etc. These are all accidents waiting to happen that make your business susceptible. Claims may arise due to bodily injury, property damage, personal injury and more.

Solution

Commercial general liability insurance is an absolute necessity for any business. It provides broad coverage when you are deemed responsible and liable, and will also pay to defend any covered lawsuit or action regardless of its merit.

Professional Liability

Risk Factor

Are you asked questions such as "How can I lose weight?" or "How do I add muscle?" Your responses to those and other questions may be well intended, but what if your customers get sick or injured as a result of that advice?

Solution

Having professional liability insurance for personal trainers will help cover you against claims of negligence - even when you haven’t made a mistake.

Commercial Property

Risk Factor

When a fire, theft or another type of disaster strikes, your commercial property and everything within it can suffer a significant loss. This can have a detrimental effect on your business.

Solution

Commercial property insurance can help protect the property your business owns and leases, including things like equipment, inventory, furniture and fixtures. Whether you own your building or lease your workspace, commercial property insurance can be purchased separately or can be combined with other necessary coverage to protect your physical assets.

Employment Practice Liability Insurance (EPLI)

Risk Factor

On average, it's estimated that three out of five businesses will be sued by their employees. Claims can stem from just about anything, such as someone taking a "joke" the wrong way and being offended. While there is nothing you can do to prevent someone from filing a lawsuit, there is something you can do to limit the costs of defending a legal claim.

Solution

The right coverage is critical to your risk management process as it protects against discrimination, wrongful termination, sexual harassment and other employment related allegations. Typically, the policy will cover your business as well as your directors and officers.

Business Income Insurance

Risk Factor

What would you do if a pipe leak impacted the operation of your business and prevented you from serving clients for a day or more? Or what if a tornado destroyed your building? These and other events can destroy your ability to serve clients and bring in revenue, which can have a major long-term impact on the viability of your business.

Solution

Business income insurance compensates you for lost income if your company cannot operate as normal due to disaster-related damage that is covered under your commercial property insurance policy.

Commercial Umbrella Insurance

Risk Factor

What happens when your business faces a large liability loss that exceeds the basic limit of your standard policy?

Solution

A commercial umbrella policy provides high limits of insurance, up to $100,000,000. Coverage is extended over your general liability insurance, workers' compensation, business auto and directors and officers liability insurance. It provides a great safety net and helps ensure your business is well-protected.

Of course, a good fitness center policy also covers standard business insurance like workers compensation, employee practices liability and protection for your buildings and equipment.

Check with your insurer for any guidance they offer about minimizing risk; for example, posting adequate warning signs about hazards using equipment, or adequately training staff to deal with emergencies and minimize damage.

We can get the right policy for your fitness center. Contact us today to start the process.

Let’s discuss your fitness center insurance.

One of our insurance advisors will reach out to you to review your information and present you with the appropriate fitness center insurance solution. There’s no obligation, just good-old-fashioned advice.

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